Q1 2017 SALES

JACQUES ASCHENBROICH - CHAIRMAN & CEO HIGHLIGHTS

+22% as reported

+13% like-for-like(1)

Sales of €4.8bn

+21% as reported

+13% like-for-like(1)

Outperformance(2)

+8pts

+6pts

+18pts

+1pt

+9pts

+5pts

OEM sales of €4.2bn

Sustained

sales growth

OEM sales outperformance Growth(1)

World

Europe China

Asia (excluding China) North America South America

+13%

+12%

+25%

+6%

+11%

+16%

+19% as reported

+8% like-for-like(1)

Aftermarket sales of €0.5bn

(1) Constant Group structure and exchange rates. (2) Vs automotive production

2017 OUTLOOK Based on the following assumptions:

� An increase in global automotive production of between 1.5% and 2%

� Raw material prices and exchange rates in line with current levels

Valeo confirms its objectives for 2017:

� Sales growth outperforming the market by more than 5 percentage points

� A slight increase in operating margin* (as a % of sales and before acquisitions)

* Including joint ventures and associates

SUSTAINED SALES GROWTH

SALES OF €4.8BN, UP 22% AS REPORTED

UP 13% LIKE-FOR-LIKE

OEM SALES, UP 21% AS REPORTED

UP 13% LIKE-FOR-LIKE, 8-POINT OUTPERFORMANCE

AFTERMARKET SALES, UP 19% AS REPORTED

UP 8% LIKE-FOR-LIKE

SUSTAINED SALES GROWTH

SALES UP 22% AS REPORTED, UP 13% LIKE-FOR-LIKE

Like-for-like

+13%

+8% +38%

+13%

487

106

€m

4,174

4,767

OEM Aftermarket Miscellaneous Sales

Reported

+21%

Q1 2016 3,437

Exchange rates +1.9%

Scope +6.9%

+19%

Q1 2016 411

Exchange rates +1.2%

Scope +9.0%

+54%

Q1 2016 69

Exchange rates +2.9%

Scope +12.5%

+22%

Q1 2016 3,917

Exchange rates +1.8%

Scope +7.3%

SUSTAINED OEM SALES GROWTH LEADING TO OUTPERFORMANCE IN ALL PRODUCTION REGIONS

Q1

Like-for-like

OEM

21% of Valeo sales sales**

+11%

North America

Production*** +2%

48% of Valeo sales

Europe*

Production*** +6%

Outperf. +6pts

OEM

sales**

+12%

OEM

World

Production***+5%

Outperf. +8pts

OEM

sales**

+13%

Outperf. +9pts

14% of Valeo sales

China

Production***+7%

sales**

+25%

2% of Valeo sales

South America

Production***+11%

Outperf. +5pts

OEM

sales**

+16%

Outperf. +18pts

15% of Valeo sales

Asia* excl. China

Production***+5%

OEM

sales**

+6%

+38%

Including Ichikoh scope effect

Outperf. +1pt

* Europe including Africa; Asia including Middle East

** Valeo OEM sales by destination

***LMC estimates - light vehicle production

6 April 26, 2017

CONFIDENTIAL

9-POINT OUTPERFORMANCE IN ASIA

Q1

Like-for-like

29% of total sales OEMsales*

+15%

Asia

Production** +6%

Outperf. +9pts

19% of Asian sales

South Korea

Production** -7%

Outperf. +10pts

OEM

sales*

+3%

25% of Asian sales

Japan

Production** +9%

Underperf. -7pts

OEM

sales*

+2%

+72%

Including Ichikoh scope effect

47% of Asian sales

China

Production** +7%

OEM

sales*

+25%

4% of Asian sales

India

OEM

sales*

+18%

Outperf. +18pts

Production** +7%

Outperf. +11pts

*Valeo OEM sales by destination

**LMC estimates - light vehicle production

7 April 26, 2017

CONFIDENTIAL

BALANCED GEOGRAPHIC POSITIONING

OEM sales by production region

% of OEM sales

53% in Asia

& emerging countries

Eastern Europe & Africa 16%

Asia excl. China 13%

China 13%

Western Europe 35%

US

56% in Asia

& emerging countries

Eastern Europe & Africa 16%

Asia excl. China 15%

China 13%

Western Europe 32%

US

SA Mexico 1%10%

12%

SA Mexico 2% 10%

12%

Q1 2016

Q1 2017

A MORE DIVERSE CUSTOMER PORTFOLIO

% of OEM sales

French* 16%

Other 5%

German 30%

French* 14%

Other 6%

German 28%

American 23%

Asian** 26%

Asian** 26%

American 20%

Asian** 26%

Asian** 32%

Q1 2016

* Excluding Nissan

** Including Nissan

Q1 2017

SUSTAINED GROWTH IN THE 4 BUSINESS GROUPS

OEM sales growth

like-for-like

+10% +11% +15% +14%

VIS 30%

Group

€4.8bn

THS 27%

CDA 20%

PTS 23%

Total sales

In €m

Comfort & Driving Assistance

Powertrain Thermal Visibility

% Q1 2017 sales

Total sales growth Year-on-year

+18%* +12% +23%** +30%***

*Including peiker **Including Spheros ***Including Ichikoh

2017 OUTLOOK

2017 OUTLOOK Based on the following assumptions:

� An increase in global automotive production of between 1.5% and 2%

� Raw material prices and exchange rates in line with current levels

Valeo confirms its objectives for 2017:

� Sales growth outperforming the market by more than 5 percentage points

� A slight increase in operating margin* (as a % of sales and before acquisitions)

* Including joint ventures and associates

Valeo SA published this content on 26 April 2017 and is solely responsible for the information contained herein.
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